Energy switching


(Charlie Crichton) #1

Are you going to launch an energy switching service as part of monzo and if so when?
Have you heard of the energy switching company Switchcraft?


(Terry) #2

Might be worth having a little look at this:

Monzo is currently in early trials on presenting ways to switch. I believe the ultimate goal is to have a 60sec switch option though the Monzo app with selected partners that follow Monzo’s ethos…but this will be a lot further down the line so won’t be anytime soon.


(Jon Crozier) #3

I’d be up for switching but only just realised that for the time being at least, switching to a new provider turns your current smart meter (if you have one) into a regular dumb one.
The smart meter back end isn’t cross compatible between providers yet.
This seems ridiculous to me. My meters are not in an easy place for me to read them so I’ll be sticking with my same provider until i know whoever I go to will be able to read them remotely.
And to stay on topic - I’m keen to be able to switch via the marketplace here in Monzo when that day comes. :slight_smile:


(Peter Roberts) #4

I switched to Bulb through Monzo recently. I’ll save some money and get to support Monzo so I was happy to do it :slight_smile:


(Josh Carson) #5

I literally switched last night!

Already loving Bulbs onboarding. Bit annoying re the smart meter situation, but still, it’s not difficult for me to add the meter readings.


(Peter Roberts) #6

I think Bulb will be offering smart meters later this year anyway (they will be the v2 version which work with all providers!)


(Charlie Crichton) #7

Thanks, really useful. Friend was telling me about switchcraft and I thought it would be great to link this with my monzo. Switchcraft seems to be auto switching which is cool, is bulb auto or manual?


(Michael) #8

I tried https://lookaftermybills.com/ briefly which does auto switching, but I quickly cancelled.

Unless you pay every month for exact usage, auto switching will come with a random high direct debit with what’s owed to your old supplier. If I were to leave bulb now, I’d owe them around £400 which would normal be covered over the summer where I don’t use any heating.

The exception here is you switch around the end of summer when chances are your balance is around 0 due to not using heating.

As part of the auto switch, you randomly get a call out the blue from the potential new supplier to ask what your current usage is. If you’re in the middle of a supermarket shopping, chances are you don’t know this, or what your current unit rates are etc for comparison.